Officials of BancorpSouth, Inc. (NYSE: BXS) have announced the Company’s banking subsidiary, BancorpSouth Bank, has received the America Saves Designation of Savings Excellence for Banks, a new designation from America Saves that recognizes banks and credit unions that went above and beyond to encourage people to save money during America Saves Week. This is the first year America Saves has offered the Designation.
The America Saves Selection Committee, in selecting BancorpSouth for the Designation, was particularly impressed with the number of new savings accounts opened by BancorpSouth, the amount of the deposits made, and the number of automatic savings deposits. Dan Rollins, BancorpSouth Chairman and CEO, in commenting on the Designation said, “BancorpSouth is honored to be one of only 19 banks and credit unions in the country to receive this prestigious recognition. BancorpSouth bankers across our footprint worked numerous hours in conducting savings related financial education programs and distributing materials. Savings is a vital part of a healthy financial life. BancorpSouth hopes our financial education programs conducted during America Saves Week in February encourage individuals to start savings accounts or add to the accounts they already have opened.”
BancorpSouth and the other recipients of the Designation were recognized at the America Saves National Savings Forum and received a Designation of Savings Excellence seal for their website along with a plaque. Recipients were chosen by two selection committees, one for banks and another for credit unions. The committees reviewed the applications and made the determination about which institutions should receive the designation. “For years, hundreds of banks and credit unions have participated in America Saves Week by encouraging individuals to save money and build wealth,” said Stephen Brobeck, Executive Director of the Consumer Federation of America and a founder of America Saves. “For the first time, America Saves is recognizing a number of these institutions for their efforts,” he added.
America Saves Week is an annual opportunity for financial institutions to encourage individuals to save money – with an emphasis on reaching low- to moderate-income families. America Saves is recognizing exceptional banks and credit unions that succeed in promoting savings or other wealth building accounts and have high levels of accounts opened or added to during America Saves Week 2015. For more information about the America Saves Designation of Excellence for Banks,
America Saves, a campaign managed by the nonprofit Consumer Federation of America, seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. The research-based campaign uses the principles of behavioral economics and social marketing to change behavior. Nonprofit, government, and corporate groups participate in America Saves nationally and through local, regional, and statewide campaigns around the country. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week.